Private medical insurance can offer faster treatment, greater choice, and peace of mind—but it doesn’t have to break the bank.
Whether you’re new to PMI or reviewing an existing policy, there are smart ways to reduce your monthly premiums without losing valuable benefits. In this article, we’ll show you how to keep your costs down—without cutting corners on your cover.
💷 1. Choose a Higher Excess
Your excess is the amount you agree to pay towards each claim. The higher the excess, the lower your monthly premium.
Example:
✅ Tip: Choose an excess you’re comfortable paying if you do need treatment—but don’t overcommit just to get a cheaper quote.
🏥 2. Limit Your Hospital List
Insurers often group hospitals into tiers (e.g. basic, standard, or premium).
By choosing a plan that only covers treatment at standard hospitals, you can save significantly.
✅ Tip: Unless you specifically need access to high-end London hospitals, a more limited hospital list is usually more than sufficient.
👩⚕️ 3. Opt for Guided Consultant Options
With guided options, your insurer chooses a suitable consultant for your treatment rather than you selecting one yourself.
This gives the insurer more control over costs—and they pass the savings on to you.
✅ Tip: Guided options still give you high-quality care, just with fewer choices. It’s a great way to lower your premium without reducing cover.
🚫 4. Review Optional Add-Ons
Many policies offer optional extras like:
These can be helpful, but they increase your premium. If you’re not likely to use them, consider removing them from your policy.
✅ Tip: You can often add these extras later if your needs change.
🧍 5. Pay Annually (If You Can)
Some providers offer a discount if you pay yearly instead of monthly.
It’s not a huge saving, but if you have the cash flow, it can shave a few percentage points off your total cost.
🔄 6. Review Your Policy Every Year
Don’t “set and forget” your policy. Prices and terms change over time—and what worked last year might not be the best fit today.
✅ Tip: Review your policy annually with a broker (like us) to check for better deals, new benefits, or changes in your circumstances.
📈 7. Consider a No-Outpatient Policy
If you’re mainly concerned about big-ticket items like surgery, you can reduce your premium by excluding outpatient treatment (consultations, scans, etc.).
This means you’d use the NHS for diagnosis but get private care for the main treatment.
✅ Tip: This option is growing in popularity among cost-conscious customers.
🧠 8. Use a Broker (Seriously)
An independent broker can help you:
✅ Tip: A broker’s job is to work for you, not the insurer—so you get unbiased advice.
✅ Let’s Help You Find a Smarter Policy
At Daddy Insurance, we help individuals, couples and families find the right private health insurance—without overpaying.
Whether you’re looking for budget-friendly protection or full-featured cover, we’ll match you with the best deal based on your lifestyle, health needs, and budget.
👉 Request your free, personalised quote below
No hidden fees. No obligation. Just clear, honest advice from real people who understand the system.